CHARLESTON, W.Va. -- Charleston Area Medical Center officials are taking steps to borrow money for several of the hospital's upcoming projects.
CAMC's board on Wednesday approved a resolution to seek requests for proposals from local and national banks to borrow up to $50 million.
"Now's the time to find the funding to do the projects that we've been working on for a number of years," said Larry Hudson, hospital chief financial officer.
That includes the cancer center, the surgery center and other items, he said.
"It's a good time to get everything arranged and set for next year," he said.
The five projects include a $40 million cancer center, which the hospital also is raising funds for, the addition of 48 acute-care beds at CAMC Memorial, energy upgrades at CAMC General, a four-suite addition to the Ambulatory Surgery Center at General and upgrades to existing physician spaces at Memorial and General.
The hospital so far has certificates of need for the cancer center, the additional rooms at Memorial and for the addition to the ambulatory surgery center, Hudson said.
Certificates of need give approval to new health-care facilities and are intended to make sure their construction makes economic sense and is not duplicating services.
Hospital officials will first attempt to attain private financing for the projects.